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tv   Cavuto on Business  FOX News  March 19, 2011 10:30am-11:00am EDT

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sell again, but it did allow coolers heads. >> and that's really key. >> neil: and tokoyo didn't do that. >> if you look at 9/11 and watch that opening on the 17th of september, which was almost a week later, stocks fell 6%. what people forget is that that's less than a third of what stocks fell on the 19th of october in 1987. so, people had taken that step back for rationality, i think in japan, and by the way, i'm a great believer that markets should trade. that markets should not be interrupted. so, we had a different challenge, but, when markets trade themselves into tragedies, yes, there's an overracks, yes, there's probably irrational pricing, but ultimately the markets get it right, as we did in this country, as they will do in tokoyo. >> neil: still, i mean, i talk to a lot of smart folks like you, wall street legends, say you know, we could be looking at a double dip.
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>> well, it's hard in the middle of this chaos to assess the broader economic issues that come as a result of this. but, look, this economy has been rising since march of '09. we've had, you know, perhaps too much stimulus in terms of government intervention, that's being peeled back or will be peeled back. i think that it's, it's way too early to say that the events in tokoyo, the events in the middle east, in north africa will propel us into another down turn. >> neil: look, are you running for mayor of new york? >> i hope so. >> neil: really? >> i hope so. >> neil: so it would be you and eliot spitzer, that would be a-- >> well, don king has been in touch, and man, i'm not ready to give the rights just yet, but honestly-- on a serious note i think that the city is, you know, it's been my life. i was born and raised here. it's going to have enormous challenges. i've been a business manager,
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successfully leading the new york stock exchange for eight and a half years. >> neil: you're running. >> i haven't declared as yet, but you can, you can probably assume that if there is a strong third party candidate, dick grasso will run. >> neil: we will watch very, very closely. you heard it here. kind of-- introducing the most fuel-efficient luxury car available. the radically new 42 mile per gallon ct hybrid from lexus. welcome to the darker side of green.
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reactor six. and any minute president obama is expected to make comments about libya and japan and the president in brazil kicking off the latin american trip. to peter barnes travelling with the big guy. peterments after meeting this morning here in brazila, president obama and the brazilian president about to give a press statement to the media. all eyes are on that meeting in paris you just mentioned where secretary of state clinton has been meeting this morning with leaders of other countries and international organizations on the next steps to take against libya, following on the resolution, demanding that moammar gadhafi immediately cease-fire on attacks in libya and against civilian, directing council member nation to impose a no-fly zone and take all necessary measures. and excuse me sh, secretary of state. clinton meeting and german
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chancellor, angela merkel and others, hammering out what each country is expected to do. the president may take comments on libya in the press event since they say that gadhafi prevented the cease-fire and into the rebel strong hold this morning. believe it or not, the fight behind the scenes has been the format of this press availability. the americans have wanted the president to take question, brazilians say no questions at this press event and say that for president, it's not here way, not her style, but the speculation is that she just doesn't want to take any questions because brazil, as a member, rotating member of the security council, abstained from that vote on that tough vote on that resolution against libya. neil. >> neil: all right, yeah, one of five countries to do so. pete are barnes, thank you
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very, very much. and back to japan, fears about radiation is spreading and in milk, spinach and tap water. and my next guest, was first learning this when our producer calling us this morning. michael, with a can you tell us now? >> hi, i, like you said, i had heard about the tainted food for the first time when your producer called. i kind of searched around on the web to find some information about it. nobody here has really said very much about it. i haven't seen it on the news yet. it's just that it had been found and identified. my understanding that the radiation levels have been, like, have been found, but that they're very, very low. one thing that-- one report i found said you'd have to eat spinach for a year exclusively just to get as much radiation as you would from one ct scan. so from what i'm seeing right now, i don't think anybody is panicking or worrying yet, but it's definitely something to
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watch and be concerned about for the future, especially long-term exposure this comes at the same time that we're getting more hopeful news that power being restored to a couple of the reactors now, cooling commencing at at least two of them. are folks coming down the at least about that or still nuclear fears, first and most? >> the fear is definitely still there. i am up in sendai right now. i was down in fukushima just yesterday. and when i was there, like i said, my home is about 40 miles away from the-- where the plants are. in my town, everything was normal. there were kids playing in the street, people hanging their laundry. there was a cake shop open. people weren't worried about being outside or there wasn't really a panic. there's a lot more attention, especially to the people who are not able to get away from where the plant is, like close by. there's been a lot of elderly people who have not been able to get out of there and sick people at hospitals and what not. there's much more concern
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whoever what is being done with those guys. outside of that area though, things are running along smoothly and i think a lot of focus along that area, now that some of of those fears are kind of calming down is just on recovery up here in sendai. >> neil: mike, i'm curious, maybe it's just me, that when the all clear is given for folks to return to the area. do you think they will? >> yeah, i think so. like i said, i mean, the the hardest hit areas are very close to the plant, within the -- within like 20 or 30 kilometers. my home is i guess 50 kilometers or 40 miles, 60 kilometers, i guess that is and since things are running so smoothly and normally there, i don't think that people will stay away from the area, i think they'll definitely go back. >> neil: michael, thanks for your help this last, more than a week, you've been great and we appreciate it. michael kloran from sendai. and officials are screening milk for radiation.
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and the worry is that cows eating contaminated grass and so far no fears and dr. mark segal saying everybody take a chill pill and the doctor is back in the house. people are getting scared all over. >> it harkens back to the 1960's when we were worried about nuclear war, it's in our conscious, we're scared of cancer. yes, several cases of children who got thyroid cancer because of chernobyl and drinking contaminated milk, but the amounts we were talking about were very, very high people in the area why exposed to 3000 more times radiation than a chest x-ray. the that radioactive iodine stays in the atmosphere about a week and it's very good in japan around this reactor they're checking levels, but the key here, they're finding so little radiation that the chances of it affecting a child, even with a susceptible thyroid, is very close to zero. here in the united states, absurd that they're looking at
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it. >> neil: and they're filling up tap water, you know, 120 some odd miles away, again, negligible amounts? >> negligible, but, you know, it struck me as odd that's all. >> something to be taken very seriously, something to be measured in japan. the chances of it affecting anybody here, given all the science that was done with chernobyl, following the accident with radiation clouds and european worries, and study after study being done, not showing an increased cancer rate in europe, i don't think anyone in the west coast here has to worry at all. >> neil: you know, i'm hardly an alarmist, i'm not, i don't believe in it. but i also have a fairly good student of history not through any macavelian intentions where they lie or anything, but they always get it wrong. i don't believe the epa was out after 9/11 to deliberately deceive new yorkers when they said the air quality was fine around ground zero. it turns out that it wasn't absolutely fine. so i don't think it was a deliberate lie. i do think though that
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officials get it wrong. they understate the severity, much as they did certainly in chernobyl. different country, different times, different reactor. i understand. what's to prevent me from thinking these guys are going to get it wrong, too. that we're going to find out much later that the levels were potentially much higher? >> neil, you may be totally right about that. in the big report we go along with the chernobyl, a health report in 1996. i'm not always believing the world health organization, we have to have a jaundiced eye. the key here is the amount of radiation, how long you're exposed. >> neil: people in this country, i better not have spinach, not going to have milk and-- >> i think they can eat all the spinach they want and ridiculous to be hoarding potassium iodide pill. if you take one, that can damage your thyroid, allergic reaction, if you take an unnecessarily. i'm more concerned about the fear factor especially to americans. in the area of the reactor i'm
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not sure they can believe the government report and all the data is not in. >> neil: thank you, doctor, a free checkup or pay for this? >> this one is on me. >> neil: thank you, doctor. he's the best. it's the morning after in wisconsin and the judge who changed everything, the lawmaker vowing to change it back here and only here next. we wiped the slate clean. then we created a powerful, refined and aerodynamic design destined to shape our future. the jaguar xj. automobile magazine's 2011 design of the year. twenty-five thousand mornings, give or take, is all we humans get. we spend them on treadmills. we spend them in traffic. and if we get lucky, really lucky, it dawns on us to go spend them in a world where a sile sunrise can still be magic. twenty-five thousand mornings. make sure some of them are pure michigan. your trip begins at michigan.org.
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than the bmw 7-series or mercedes s-class... making the decision to own a jaguar just arational as it is emotional. >> all right. this is the scene right now in brazil. brazila, brazil. the president will have a brief statement along with the brazilian president. brand new in the job. took over january 1st. the first woman in that office and we had that shot up the entire time, and it's now lost it. but, but, trust us, they're both going to speak there. in the meantime, first the smackdown and the smack back and the friday's ruling that holds for now wisconsin budget repair bill. at the issue, is the law
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itself which strips union much of the collective bargaining power and how they voted on the law and wisconsin senate majority leader scott fitzgerald says that shouldn't be an issue. they botched it. senator, good to have you back. some say you're probably going to have to redo everything, do you agree with that? >> no, it's the most liberal judge and liberal county in wisconsin that made this ruling so none of us were surprised by that. lake you said, the attorney general is going to move to the appellate level on monday and we're all very confident we're going to have success there. this is about separation of powers. and it's through judiciary questioning, whether or not the legislative branch has the ability to run itself. and you know, it's not like we just showed up on the scene. we've been doing this for a long time, both my brother, the speaker, and myself and you know, everything we did on that evening was the way we operate according to senate
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rule, according to assembly rule and i'm confident that this will stand. >> neil: here is what i don't understand, senator. i'm no lawyer, but watched enough perry mason episodes to clear the way to make myself think i'm an expert. the judge says not adequate notice might have been given. how do you give notice to people who are out of the state not voting regardless? it's sort of like your own little catch 22. >> yeah, exactly. and you know, on that evening, we had this discussion, obviously, like we've had many times. how much notice has to be given under special session. i think it's ironic that this senate rule was actually written by two of the democrat senators who had fled to illinois in the first place back in the late 80's. no, we went through every different scenario, we talked how we would in fact create the conference committee. how much time it would take before we actually convened it. we did everything the way we always do, that's why you
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know, it's ridiculous that you've now got this activist judge in the county saying that, you know, she will decide how the wisconsin legislature will operate and how we will set our rules in place. >> neil: she might not be deciding that. she might be deciding in favor of this. i think at issue is the issue of whether it was timed properly, right? >> well, yeah, and we said, you know, we're going to go to the floor at four o'clock, create a conference committee. let's give two hours notice. even though the requirement is simply to post a remark on the bulletin board. we did that. everybody knows, the democrats, the governor, everybody knows that we're on solid ground here. >> neil: gotcha, all right. sir, i don't mean to interrupt you and rarely would i do it for the president, but the right now he is speaking off the pow wow with world leaders, secretary clinton how to deal with libyan gadhafi,
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and the french planes are already in the region, you heard that plane was shot down this morning and we're trying to find out whose plane that was, but i believe we're getting an interpretation as well from the french president. let's listen in, this is from paris. >> colonel gadhafi to avoid the worse. by complying immediately and unreservedly with all the demands of the international community. the doors of diplomacy will open once again when the aggression stops. our determination is total. i say this with all-- for those concerned must now face up to their responsibilities. it is a grave decision that we have come to take, alongside his arab partners, european partners and north american partners, france is resolved to shoulder its role for
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history. thank you. >> all right. that was french president sarkozy and he he called for this emergency meeting of global leaders, president obama of course in brazil couldn't make it and he did send hillary clinton. speaking of the president he will be speaking momentarily with the brazilian president and taking you there shortly and reaction now from the guy who commanded the u.s.s. cole, kirk lippow. obviously, all pressure on how to deal with lib yeah, how to deal with gadhafi, a guy whose he' gone back and forth on whether he was going to respect the cease-fire. he clearly has not. what do we he do? >> i think, neil, you're seeing we're doing it right now. we're working with our international partners, specifically the french and the british, allowing them to take a lead royal in establishing air superiority over the northern area of libya and then gradually expanding to where we know where the aircraft are, where the anti-missile sites are and
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beginning to enforce that no-fly zone. >> neil: so, what do we do? the argument, the final argument seen as a justified response, but a late response. that gadhafi has already got things full under control. >> i think there was a hesitation, i think unfortunately, the administration waited too long, we're now witnessing once again the slaughter of innocent civilians because of the hesitation on our part. this should have been going as soon as possible after the arab league voted should have pushed through the u.n. at some point, it's night to have the international bodies on board, but the reality is, if we're going to lead in the world, if we're going to allow other countries to lead with us like the french and british, then we have to take action as necessary to ensure that we can protect innocent civilians. gadhafi clearly has the momentum going into benghazi right now. his aircraft although one did get shot down, that's really insignifica insignificant. the reality we don't know how it got shot down.
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>> neil: do we know which side it is. >> we knew it was a gadhafi aircraft that got shot down and that's all. >> neil: this is going to sound callus, commander, why are we getting involved in the fight. >> i would take a look at it, look, gadhafi has killed americans in the the past, did it in 1986 with the berlin disco bombing where we had to attack and did it in pan am, and when it's said and done and given the reaction of the international community how he's killing his own people that he won't turn on us again, as well as the european partners and attempt to kill us as well. >> neil: what do you think of the devil you know, better than the devil you don't know. a lot of the people who we are supporting now, the rebels might have been the same ones showing up at return heroes welcome to the guy behind the lockerbie flight bombing? >> well, the devil you know, guess what, neil? i think we're reaching a point we have to look at the it and say the reality is, we can no longer deal with the devil we know. to a degree we have to start
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leaning forward and start pushing this agenda and it really is an agenda where we need to create the opportunity for people to have a hand in their destiny and the future of their nations. we'd like that to be democracy if at all possible, but the reality of it is, it may not be all the time, but we have to give people that choice and right now, gadhafi is clearly and ruthlessly killing his people to prevent that from happening. >> neil: let me go back to my callus statement earlier, commander if you can be be so patient. let europe handle this. closer to their neck of the woods. germany should have been involved, they abstained, clearly do a lot of business with gadhafi. france has a vested interest in the region, that i understand. we always seem to be carrying the baton and the cost for this sort of thing. why can't we just say, europe, jump ball, your ball? >> i think the reality in these days, neil, is that the militaries of many countries, including ours, have gotten smaller and the reality of it
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is, we need to work together. there are absolutely-- >> we're a little bit in that region, commander. >> not necessarily in the six weeks, certainly in afghanistan and less are degree iraq. but certainly we have assets we can use to help our coalition partners be able to enforce that no-fly zone. that's what we're contributing and that's what's going to allow this operation to hopefully succeed here in the next few days. >> neil: and to that, what do you make of french, the president sarkozy sort of being the voice here? maybe for the reasons i stated that europe should be the one, but not our president? >> well, when you're on vacation in brazil it's very difficult to be a world leader. >> neil: wait a minute, he's not on vacation, we're told that the economic mission. >> okay. got it. i understand that. the reality of it is, the fact that president sarkozy is stepping up to the plate, that he's taking a leadership role in this i think is significant and does show that the europeans do have a vested
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interest in it and we're just helping in facilitating that operation, to success. >> neil: commander, i forgot how blunt you were. always good seeing you. >> thank you very much. >> neil: you, too. >> neil: this is the scene now in brazil and we will be ready for the president to speak out on this and indeed there has been cross over back and forth, why is he there and not leading the effort to lead the effort for a no-fly zone in libya? we'll see. [ female announcer ] it's monday, some people will stick with their old way
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